Dennis Hong
ShawSpring Partners
Dennis Hong (ShawSpring Partners) discloses a $232M portfolio across 11 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is BABA at 16.9% of the book. The biggest move of the quarter: added 41% to the BABA share count (position now $39M). Mechanically cloning this 13F returned 11.3%/yr over the past 7.4 years, versus 15.9%/yr for the S&P 500 across that identical 7.4-year window.
Holdings (11) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | BABA | 16.9% | $39M | |||
| 2 | AMZN | 16.1% | $37M | |||
| 3 | OKTA | 13.8% | $32M | |||
| 4 | ZS | 10.2% | $24M | |||
| 5 | CR | 7.8% | $18M | |||
| 6 | MSFT | 7.3% | $17M | |||
| 7 | FWONK | 7.0% | $16M | |||
| 8 | CPNG | 6.9% | $16M | |||
| 9 | BRZE | 6.0% | $14M | |||
| 10 | GDS | 4.9% | $11M | |||
| 11 | CEG | 3.0% | $7M |
- 1BABAport16.9%val$39MAlibaba Group Holding-sp Adrthis Q +41%·3q
- 2AMZNport16.1%val$37MAmazon.com Incthis Q hold·3q
- 3OKTAport13.8%val$32MOkta Incthis Q -58%·5q
- 4ZSport10.2%val$24MZscaler Incthis Q hold·2q
- 5CRport7.8%val$18MCrane COthis Q New·—1q
- 6MSFTport7.3%val$17MMicrosoft Corpthis Q New·—1q
- port7.0%val$16MLiberty Media Corp-formula-cthis Q hold·4q
- 8CPNGport6.9%val$16MCoupang Incthis Q hold·13q
- 9BRZEport6.0%val$14MBraze Inc-athis Q -42%·7q
- 10GDSport4.9%val$11MGds Holdings Ltd - Adrthis Q +71%·2q
- 11CEGport3.0%val$7MConstellation Energythis Q +23%·2q
2026Q2 moves, by size (10)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| BABA | Alibaba Group Holding-sp Adr | ADD | 16.9% | +41% | $39M |
| OKTA | Okta Inc | TRIM | 13.8% | -58% | $32M |
| BRZE | Braze Inc-a | TRIM | 6.0% | -42% | $14M |
| CR | Crane CO | NEW | 7.8% | +100% | $18M |
| MSFT | Microsoft Corp | NEW | 7.3% | +100% | $17M |
| INTU | Intuit Inc | EXIT | 6.6% | -100% | $0 |
| CSGP | Costar Group Inc | EXIT | 5.1% | -100% | $0 |
| GDS | Gds Holdings Ltd - Adr | ADD | 4.9% | +71% | $11M |
| PCOR | Procore Technologies Inc | EXIT | 4.6% | -100% | $0 |
| CEG | Constellation Energy | ADD | 3.0% | +23% | $7M |
- ADDBABA16.9%Alibaba Group Holding-sp AdrΔ +41%·$39M
- TRIMOKTA13.8%Okta IncΔ -58%·$32M
- TRIMBRZE6.0%Braze Inc-aΔ -42%·$14M
- NEWCR7.8%Crane COΔ +100%·$18M
- NEWMSFT7.3%Microsoft CorpΔ +100%·$17M
- EXITINTU6.6%Intuit IncΔ -100%·$0
- EXITCSGP5.1%Costar Group IncΔ -100%·$0
- ADDGDS4.9%Gds Holdings Ltd - AdrΔ +71%·$11M
- EXITPCOR4.6%Procore Technologies IncΔ -100%·$0
- ADDCEG3.0%Constellation EnergyΔ +23%·$7M
About Dennis Hong
Dennis Hong founded ShawSpring Partners as a concentrated, long-only equity vehicle oriented around what the firm describes as high-quality compounders — businesses with durable competitive advantages across technology and consumer internet. The 2026 Q1 13F reflects that disposition clearly: 12 disclosed positions, roughly $268M in long equity exposure, and a top-five concentration of 65% anchored by OKTA, AMZN, BABA, ZS, and BRZE. That kind of portfolio has meaningful single-name and sector risk; a reader should treat the filing as a reasonably complete picture of the book, since ShawSpring's strategy does not prominently feature shorts or derivatives that would render the 13F a partial view. The caveat worth noting is the 45-day disclosure lag — position sizing can shift materially before the data reaches the public. A Latticework clone backtest run over roughly seven years shows the disclosed longs have trailed SPY by approximately 5 percentage points annually, a gap consistent with the portfolio's tilt toward growth-oriented software names during a period of rate-driven multiple compression.
2026Q2 brief
Dennis Hong's ShawSpring Partners made two of the boldest calls in its peer group this quarter: a 41.0% add to BABA (now the top holding at 16.9% of a $230M book) and the complete exit of INTU, CSGP, and PCOR — three software names that were meaningful positions. The OKTA stake was slashed by 58.5% (still 13.8%), suggesting Hong is rotating away from pure-play identity/security software in favor of broader infrastructure themes. New positions in CR (Crane Holdings, 7.8%) and MSFT (7.3%) tell different stories: CR signals a turn toward industrial compounders, while MSFT is a relative rarity for ShawSpring, implying mega-cap quality is now more attractive on a risk-adjusted basis. The 71.4% add to GDS (Chinese data centers, now 4.9%) complements the BABA thesis with an AI infrastructure angle in China. Hong is effectively consolidating around two poles: China consumer/infra and U.S. quality compounders. Watch whether OKTA is fully exited next quarter — that would confirm a clean break from the high-multiple security software cohort.
AI-generated. Not investment advice.
Filing history
Dennis Hong's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 11 | $232M |
| Q1 2026 — what changed → | 12 | $268M |
| Q4 2025 — what changed → | 11 | $531M |
| Q3 2025 — what changed → | 11 | $673M |
| Q2 2025 — what changed → | 10 | $792M |
| Q1 2025 — what changed → | 10 | $728M |
| Q4 2024 holdings | 11 | $755M |
| Q3 2024 holdings | 10 | $792M |
| Q2 2024 holdings | 10 | $693M |
| Q1 2024 holdings | 8 | $779M |
| Q4 2023 holdings | 6 | $609M |
| Q3 2023 holdings | 6 | $597M |
Values as disclosed at each quarter end. Older filings on EDGAR.
Multibaggers Dennis Hong held
Stocks up 5x or more since Dennis Hong first held them at conviction size — the holding record behind the returns. Longest unbroken run and largest book weight are shown for each.
- AMZN13.8xAMAZON.COM INC2q straight · peak 14.51% · still holds
- CVNA13.4xCARVANA CO7q straight · peak 32.01%
- SE7.7xSEA LTD-ADR24q straight · peak 45.06%
- HLT6.0xHILTON WORLDWIDE HOLDINGS IN12q straight · peak 19.51%
- XYZ5.9xBLOCK INC7q straight · peak 19.16%
Price multiple since the first quarter we observed a conviction holding (2014Q1 at the earliest), not Dennis Hong's realized return — entry price and trades between filings aren't disclosed. Peak weight is share of disclosed US 13F book. All 129 multibaggers the cohort held →
Frequently asked questions
- What stocks does Dennis Hong own?
- As of 2026Q2, Dennis Hong's 13F discloses 11 positions worth $232M. The top five holdings: BABA (16.9%), AMZN (16.1%), OKTA (13.8%), ZS (10.2%), CR (7.8%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Dennis Hong buy this quarter?
- In 2026Q2, the filing shows 2 new positions and 3 additions to existing holdings. The largest positions touched by buying: BABA, CR, MSFT, GDS, CEG.
- How big is Dennis Hong's portfolio?
- $232M across 11 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 65% of the disclosed book.
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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001766908). Not investment advice.